Top 10 Best Pension Companies in Nigeria

By: Jayne Badmus /
 March 22, 2022
  / 4 min read
Categories: Finance, Management

Pension is a long-term savings plan that has helped a lot of people have something to fall back on after they no longer want to work or they have retired from service. Having a backup plan in Nigeria   is one of the wisest choices you can make as a Nigerian. This is why we will be looking at some of the best pension companies that we have in Nigeria. But first, let’s have an overview of what pension is.


Pensions are retirement funds saved up for employees by their employers (which can be private or public as the government) or by both the employer and the employee with the largest part being paid by the employer. When the employee retires then he or she is paid annuity according to the terms of the pension. This means that a person receives compensation for their past services to a particular organization they have worked for in the past after they have retired.

What is a Pension?

A pension can be a defined benefit plan or a defined contribution plan and is quite different from severance pay which is paid at once to an employee that received involuntary termination before they could retire.
Now that we now understand what pension is, let’s check out the best pension companies we have in Nigeria, this is based on trust, popularity and their performances.

Top 10 Best Pension Companies in Nigeria (2022)

1. AXA Mansard Pension Limited

AXA Mansard has been operating since 2006, and are presently one of the best pension companies that we have in Nigeria. They have made their packages to suit each class of person that will be needing their services. It doesn’t matter what your job or business is. There is also a package for self employed people to put some funds away for their retirement plan. This is known as Micro Pension Plan. It is flexible, absolutely convenient and customer friendly. AXA Mansard is located at Victoria Island, Lagos State.

2. Arm Pension Manager Limited

Arm pensions is one of the first pension companies to be licensed by the National Pension Commission. It is a subsidiary of Asset and Management Company group that is known for it’s reputation in investment and management of pension funds. This pension company gives their customers enlightenment about how to live life after they have retired. One beautiful benefit of Arm pensions is that they grant their customers pensioner’s benefits if they are laid off from their workplace.

3. Leadway Pension

Leadway Pension was also established in the year 2004. It is popular for giving flexible and customer friendly after retirement support to all their customers. They also have a well-defined approach that helps them to monitor the overall performance of their investment security. They are known to protect their customers long term funds and maximizing potential returns. Their Head branch is situated at Funsho Williams Avenue, Surulere, Lagos State.

4. VGP Pension Limited

VGP pension was previously called the FUG pension. They have a Retirement savings account, additional voluntary contributions, benefits administrations, portfolio management and pension advisory services. VGP is of the best pension funds administrators and they are known for their amazing customer service and effective service delivery.

5. NLPC Pension Fund Administrator Limited

NLPC pensions’ goal is to ensure that their customers enjoy a comfortable future. This they do by making sure that there is a stable source of income for their customers upon retiring. This plan they are achieving this through effective management of the allocated pension fund. They are know for their exceptional team, great service delivery, and fund administrative services powered by technology. They are located in , Anthony, Lagos State.

6. Crusaders Sterling Pension Limited

Crusaders pensions was established in the year, 2004. They are known for having excellent customer care service and their ways to enlighten the people on effective ways to secure their funds. They have received award for the best performing pension funds administrator in Nigeria. They are also well known for their returns in investment (ROI).

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7. Oak Pension

Oak Pension has been in operations since 2004. Over they years, they have gained a reputation for their ability to invest pension funds and get great yields for their pensioner’s. They have different pension packages that is beneficial to every class of people there is. Some of them are;

Retirement savings account which is a mini retirement plan account opened just for saving for your retirement. Then there is voluntary contributions that involves extra contributions that people donate and can be added to their retirement account or taken care of separately.

They also have the benefits administrations and payment which is for managing and giving benefits to their RSA holders and of course the Defined benefit scheme management which is a package you get where the amount you receive as pension is dependent on the number of years you worked and how much salary you earned.

8. Pension Alliance Limited

Pension Alliance has been operating since the year 2005. They have had a lot of years handling pension funds as pension fund administrator and they cater to the management and payment of pension funds to as many pensioners with an account with them. Pension Alliance Limited boasts of over 450,000 customers. They are co owned by First Securities Discount House and The African Alliance insurance company limited.

9. Sigma Pension

Sigma pensions received their license as pension fund administrator in 2004, then they began operations in 2005. They are one of the oldest pension funds administrators that we have in Nigeria. Over they years they have experienced so much growth that by the end of the year 2020 they have managed retirement funds for over 780,000 people out of which 11,000 has been paid a total sum of 28 billion naira.

10. Fidelity Pensions Managers Limited

Fidelity Pensions were previously know as Alliance Management limited. They have a major aim of providing secure and rewarding pension services for their pensioner’s to enjoy better retirement. It’s paid up share capital is 2 billion naira. This is in accordance with the prerequisite for pension fund administrators of 1 billion naira.


The following pension companies listed above have all you need. All you have to do is pick the one that appeals most to you. You can never go wrong with these companies.


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